Little Learners Child Development Center Receives CREDC Financing Assistance to Expand Facility
HARRISBURG, PA (December 22, 2015) – The Harrisburg Regional Chamber & CREDC (Chamber & CREDC) announced today that Little Learners Child Development Center closed on a $909,000 SBA 504 loan to support the purchase of a new facility at 2323 Linglestown Road, Susquehanna Township, Harrisburg, Dauphin County, PA. This new location replaces the smaller location formerly at 2300 Vartan Way, Susquehanna Township, Harrisburg, Dauphin County, PA. The center, under Lisa Whitworth’s ownership and management, had run out of space and carried a waiting list. The new facility provides space for three additional classrooms, expanded outdoor play areas, and will accommodate up to 60 additional children.
The SBA 504 loan proceeds are part of $2.23 million project which included bank financing provided by BB&T. Using SBA 504 financing in the project provided a 20 year fixed rate to the Whitworth’s and cut their cash injection in half. This highly valued program benefit was a key factor in the Whitworth’s decision to pursue the project, which was developed for the Whitworth’s by H. Ralph Vartan.
The Chamber & CREDC has formed a strategic partnership with the South Eastern Economic Development Company of PA to provide SBA 504 loans to our region. As a result of this arrangement, the Chamber & CREDC provides borrowers local representation, as well as a closing attorney that’s close to home.
The Capital Region Economic Development Corporation is the economic development arm of the Harrisburg Regional Chamber, and is the leading organization for promoting and performing economic development activities in Cumberland, Dauphin and Perry counties. The group offers a variety of programs and resources to help attract, retain and expand business in the region. CREDC is a certified lender in Cumberland, Dauphin, and Perry counties.
The Harrisburg Regional Chamber & CREDC serves as a catalyst for promoting growth and quality of life in Cumberland, Dauphin and Perry Counties by providing a unique blend of business, community and economic development and advocacy services under one roof to boost our economic vitality and livability as a region. The Chamber & CREDC has been accredited with five stars from the United States Chamber of Commerce.